REPowerEU

Rosalba Famà

Chapter 9 in Research Handbook on Post-Pandemic EU Economic Governance and NGEU Law, 2024, pp 128-143 from Edward Elgar Publishing

Abstract: The Russian unlawful invasion of Ukraine affected directly and indirectly EU energy independence and posed a threat to the successful implementation of the NextGenerationEU (NGEU) recovery plan. To tackle the effects of the energy crisis and its potential impact on the economic recovery in Europe, the EU adopted the REPowerEU Regulation that amends NGEU to make it fit for the current urgencies. This chapter presents a legal analysis of REPowerEU, which is the first example of NGEU’s architecture beyond the pandemic. The chapter highlights that although conceived as a one-off tool, NGEU’s legal structure can be adapted to further needs. Moreover, the chapter argues that the EU provided itself with a temporary macroeconomic stabilization function, whose legal foundations are found in the Cohesion policy Title of the TFUE. This chapter sheds light on this new era of Cohesion policy.

Keywords: Economics and Finance; Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
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